Aurora Investment Counsel Grows Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Aurora Investment Counsel raised its position in EPAM Systems, Inc. (NYSE:EPAM) by 44.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,865 shares of the information technology services provider’s stock after buying an additional 1,802 shares during the period. Aurora Investment Counsel’s holdings in EPAM Systems were worth $1,103,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in EPAM Systems by 372.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after buying an additional 375,439 shares during the period. Duality Advisers LP increased its stake in shares of EPAM Systems by 60.7% during the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock worth $2,970,000 after purchasing an additional 4,061 shares during the last quarter. Diversified Trust Co bought a new stake in shares of EPAM Systems in the 2nd quarter worth approximately $734,000. Vanguard Group Inc. lifted its stake in EPAM Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after purchasing an additional 39,531 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in EPAM Systems by 62.6% during the first quarter. Russell Investments Group Ltd. now owns 46,381 shares of the information technology services provider’s stock valued at $12,809,000 after purchasing an additional 17,848 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Jefferies Financial Group increased their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $225.00 price objective on shares of EPAM Systems in a research note on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $258.32.

EPAM Systems Price Performance

Shares of EPAM Systems stock opened at $199.03 on Tuesday. The company’s fifty day simple moving average is $201.91 and its two-hundred day simple moving average is $211.93. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a market cap of $11.54 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 4.36 and a beta of 1.45. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.19. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. EPAM Systems’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.21 earnings per share. As a group, equities analysts expect that EPAM Systems, Inc. will post 8.07 EPS for the current year.

EPAM Systems declared that its board has initiated a share repurchase program on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.